Detail Analysis
Date:
Status:
Count:
Contributor:
June 25, 2019
Verified
2
zerofriction.io
Loss Amount:
37,000,000
Recovered Amount:
-
Currency:
Dollars, sKRW, sETH
KYC By:
Audit By:
None
None
Website:
Twitter:
No data
Discord:
No data
Telegram:
No data
Medium:
No data
Github:
No data
Key Indicators
Platform:
Type:
Category:
Method:
Ethereum
Protocol
Derivatives
Contract Vulnerabilities
Extended Method:
Oracle manipulation
Data Sources:
Synthetix, a synthetic asset issuance platform built on Ethereum, experienced an oracle attack which netted the attacker over 37 million sETH, according to Etherscan. However, the true dollar value is difficult to calculate at this time given the relative illiquidity of sETH on secondary markets. In this case, a Synthetix oracle, responsible for providing external data to Synthetix’s smart contracts, transmitted false data on June 25, which a bot took advantage of. One bot owner's balance was inflated due to an incorrect sKRW price feed, which he then converted into an inflated amount of sETH. Attempted to contact bot owner to recover part of funds, however, no further details reported.
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